Most home buyers who buy a vacation home will have to pay a second mortgage and meet higher credit standards since they are more likely to take on larger amounts of debt. (synchronybank.com)
High down payments, high interest rates, and high credit standards made jumbo loans almost obsolete. (themortgagereports.com)
The result is that they demand higher credit standards (typically higher operating cash flow) of their borrowers. (hussman.net)